Loan Against Property In Mumbai | Get a Free Quotes From Top Bank

What Is Loan Against Property ?

The Loan Against Property (LAP) is a loan offered by the lender- Bank/NBFC/HFC against the security (i.e., mortgage) of a freehold property. The property pledged can either be residential or commercial. Since there is a security (or mortgage) involved, it is considered as a secured loan by the lender and hence is also called a Mortgage Loan in India.

Loan Against Property Purpose

Also referred to as property loan India, LAP can be used for personal as well as business purposes, such as home renovation, house repairs, investment in property, children’s education & marriage, business expansion, closing unsecured loans, etc. Since the LAP amount can be utilized for many personal reasons, lenders keep their margins high in mortgage lending interest rates and therefore the rates are high in mortgage loans because mortgages involve more risk.

Current Loan Against Property Interest Rates Comparison

Bank	Loan Against Property Interest Rate In India	LAP Processing Fee	Maximum Tenure For Loan Against Property
ICICI Bank Loan Against Property	7.75% p.a. - 9.75% p.a.	1% of the loan amount + applicable GST	Up-to 20 years	Enquire Now
*Limited period offer with ICICI Bank*		*0.50% Processing Fee waiver for cases above Rs.50 Lakhs*
*Special ROI for a commercial loan with ICICI Bank @ 8% p.a.*		*Discounts are available on processing fees.*
HDFC Loan Against Property	7.50% p.a. - 11.10% p.a.	0.50% of the loan amount + applicable GST	Up-to 15 years	Enquire Now
*Limited period offer with HDFC*		*0.25% Processing* *Fee waiver for cases above Rs.50 Lakhs*		Enquire Now
Canara Bank Loan Against Property	9.95% p.a. - 12% p.a.	0.50% of the loan amount + applicable GST	Up-to 10 years	Enquire Now
Kotak Loan Against Property	9.25% p.a. onwards	1% of the loan amount + applicable GST	Up-to 15 years	Enquire Now
Axis Bank Loan Against Property	10.50% p.a. 11.25% p.a.	Rs.10,000/- or 1% of the loan amount (whichever is higher) + applicable GST	Up-to 20 years	Enquire Now
SBI Loan Against Property	8.80% p.a. - 9.65% p.a.	1% on the loan amount + applicable GST Subject to a minimum of Rs.50,000/-	Up-to 15 years	Enquire Now
Bank Of Baroda Loan Against Property	8.45% p.a. - 13.20% p.a.	1% of the loan amount + applicable GST Subject to a maximum of Rs.1,50,000/-	Up-to 10 years	Enquire Now
Bank Of India Loan Against Property	8.85% p.a. - 9.35% p.a.	1% of the loan amount + applicable GST Subject to a maximum of Rs.50,000/-	Up-to 15 years	Enquire Now

Note: Interest rates of home loans of all banks and processing fees are subject to change without prior notice.

How Much Loan Against Property Do Cost?

Mortgage Processing Fees	Up-to 1% on the loan amount.
Legal & Technical Cost	Rs.5900/- to Rs.10,000/-
Stamp Duty Cost OR Registered Mortgage Cost	0.30% on the loan amount. OR 0.50% on the loan amount.
CERSAI Cost	Rs.100/-.
CIBIL Cost	Up-to Rs.100/-.
Title Search Cost	Rs.3,500/- - Rs.7000/-
Foreclosure Charges on LAP	2% - 4% on the outstanding loan amount.
GST	18% applicable on all loan charges.

Loan Against Property Tenure

The minimum tenure for loan against property is 5 years.
The maximum tenure for loan against property is 20 years.

Loan To Value (LTV)

The loan to value ratio tells how much of a property is being financed. It is the major factor in determining your LAP eligibility. The LTV ratio in LAP is different for residential, commercial, and industrial properties.

Residential Property	Commercial Property	Industrial Property
Self-Occupied - 65% of the property value. Vacant - 55% of the property value. Rented - 55% of the property value.	Self-Occupied - 60% of the property value. Vacant - 50% of the property value. Rented - 50% of the property value.	Self-Occupied - 50% of the property value. Vacant - 40% of the property value. Rented - 40% of the property value.

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Which Is The Best Bank For Loan Against Property In India

Currently, HDFC tops the rank for the best banks providing the lowest interest rates for mortgage loan in India followed by ICICI Bank. HDFC Loan against property interest rates start from 7.50%, you may also apply for mortgage loan online from the comfort of your home.

Best Loan Against Property In India

If quick services along with faster disbursements & low-interest rates are your priority, ICICI loan against property is the best. Apply for ICICI Mortgage Loan.
If only the lowest interest rate is your priority, HDFC LAP is the best. Apply for an HDFC home loan against property.
If you are an NRI and want to mortgage your residential property, an ICICI loan against property for NRI in India is the best.
If you are looking to apply for mortgage online from the comfort of your home, ICICI Bank LAP is the best.
If you wish to apply loan against property presanction loan without paying upfront for the entire processing fees, HDFC Bank property loan & ICICI LAP loan are better choices where you pay only a nominal fee of Rs.5900/-
If you are a senior citizen above 60 years & in need of funds for your livelihood, the Canara Bank property loan is best to apply for reverse mortgage loan.

Apply For Loan Against Property Online

Types Of LAP Loans In India

Types of mortgage loans in India can broadly be categorized into 6 types. The following are these 6 different types of mortgages in India.

Simple LAP/ Mortgage - It is a traditional mortgage loan where you pledge property to get the loan. The interest rates can either be fixed or floating.

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Loan Against Property Overdraft (LAP O/D) - It is a loan given in the form of an overdraft facility. In od loan against property, you pay interest only on the borrowed loan amount. The overdraft against property interest rates is 1%-2% higher than the standard mortgage rates. Banks with LAP overdraft facility include ICICI Bank overdraft against property, Canara Bank overdraft against property, Bank Of Baroda overdraft against property, SBI overdraft facility against property, HDFC Bank overdraft against property, PNB overdraft against property.

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Loan Against Property Balance Transfer - It is a loan where you balance transfer loan against property to another lender to enjoy the benefits of lower interest rates, longer tenures, and to apply for a top-up loan.

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Loan Against Property Top Up Loan - It is a loan to get additional funds on your existing LAP loan. Mortgage top up eligibility is subject to income eligibility and LTV ratio. The top up loan against property interest rates varies from 0.10%-1% above the existing LAP rate.

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Lease Rental Discounting (LRD) - It is a term loan provided against the rental income received on the commercial property let out to an reputed establishments.

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NRI Loan Against Property - It is a mortgage loan available only for salaried NRIs working in countries outside India.

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Reverse Mortgage Loan India - It is a loan against property for senior citizens in India above 60 years. In a reverse mortgage, senior citizens can avail regular/periodical payments from the bank against the mortgage of their house while still retaining the ownership of the house and occupying the same.

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Commercial Property Loan - It is a loan provided for the purchase of under-construction or ready to move commercial property.

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Loan Against Property Eligibility Criteria

Each lender has different eligibility criteria for loan against property. The amount of mortgage loan they provide depends on these different criteria such as your age, income, employment details, CIBIL scores, LTV, FOIR, total liabilities & title clearance of the property.

Eligibility Criteria For Loan Against Property

Age	Minimum 21 years & Maximum 70 years
Resident Type	Indian resident, NRI & PIO
Employment Profile	Salaried, salaried NRI, self-employed & self-employed professionals.
Type Of Property Collateral	Residential, commercial & industrial.
CIBILScore for Mortgage Loan	Satisfactory CIBIL scores of 750 & above
Minimum Income	For Salaried - Rs.3,50,000/- p.a. For Self-Employed - Rs.1,80,000/-
Loan Against Property Minimum Amount	Rs. 10 Lakhs.
Incomes Considered for Eligibility	Salary, perks, incentives, bonus, gratuity, arrears, paid leaves. Income from other sources such as rental income, agricultural income, etc. Company’s net profit, if the company is a co-applicant in the loan. Net income and profits of all the businesses of the self-employed. Income of the co-applicant.
Incomes Not Considered for Eligibility	Interest income received on the money lending business. Overtime and part- time income of the salaried. Partner’s income in a partnership firm. Interest income received on the fixed deposits and investments. A salaried person who is also having a business, income from only one head will be considered i.e., either salaried income or a business income.
How is loan against property eligibility calculated? Lower of: For Salaried ((Net income per month X 60% FOIR) – Obligations) ÷ Per lakh EMI For Self-Employed (Net Profit X 65%-70% FOIR) - Obligations) ÷ Per Lakh EMI LTV – Market Value of the property X (40%-65%).
Properties Considered as Collateral	Only self-owned, jointly owned, or a parental owned property. Property whose registration and stamp duty are done. A property having a clear and marketable title. A property having a good residual age. Older properties (more than 50 years) with a structural audit report. Property having all property papers including OC, CC & Plan Copy, Index 2 & prior chain of agreement. 25-30 years old properties whose property tax is duly paid in the absence of OC, CC & Plan Copy. A pagadi property can be considered along with the other owned property to enhance the loan amount.
Properties Cannot Be Considered As Collateral	Old properties with no residual age and structure audit report. Pagadi Property. Chawl Property. Illegal property. Third-party ownership property. SRA properties less than 5 years old. A property having a notarized agreement. The government allotted quarters. Rented Property. A gift deed property without stamp duty and registration. Residential property converted to commercial use without the authority approvals. A property without a clear and marketable title. Property with incomplete property papers. Property that is blacklisted by the banks.

Loan Against Property Calculator

With a loan against property EMI calculator, calculate how much EMI for loan against property you can comfortably pay. The three main factors which determine your mortgage EMIs are loan amount, loan tenure, and the rate of interest. Use these details on the LAP calculator and know your EMI along with the total interest payable to the lender.

Calculate Your EMI

Loan Against Property Advantages

Given below are the benefits of loan against property:

The LAP loan can be applied both online as well as offline.
The LAP amount can be used for personal as well as business purposes.
The loan against property benefits if you need a loan for personal use since its interest rates are lower than the personal loan.
LAP benefits if funds are required for business purposes since the LAP rate of interest is lower when compared to interest rates of unsecured business loans.
LAP loans can also be enjoyed in the form of overdraft facilities. The OD limit against property will vary with the lender.
With integrated branch networks, you can get a LAP anywhere in India.

Top 3 Best LAP Loan Schemes

Of all the mortgage companies in India, given below are the top 3 best mortgage loan schemes of the banks.

1) ICICI Bank Mortgage Loan

Low ICICI lap interest rates starting from 8.35% p.a.
Digital online mortgage application is possible.
A joint mortgage application can be made. Know the benefits of joint application.
The maximum tenure offered under loan against property is up-to 20 years.
You can apply for mortgage pre-approval online.
ICICI NRI loan against property available for NRIs.
Overdraft facility against property in ICICI Bank is available for both salaried and self-employed applying for mortgage.
Adjustable mortgage rates & fixed interest rates mortgage loans available.
LTV up-to 70% for doctors.
Attractive ICICI loan against property interest rates for mortgage loan balance transfer.
Other popular loan products of ICICI Bank include ICICI Bank home loan, banking surrogate, home loan transfer & mortgage overdraft.

Read more

Loan Against Property Apply Online With ICICI Bank

2) HDFC Bank Loan Against Property

Lowest interest rate mortgage loan available with HDFC Bank. HDFC LAP loan interest rates start from 7.50% p.a.
You can apply for mortgage pre-approval at a minimum login of Rs.5900/-
Enjoy maximum tenure offered under loan against property in HDFC Bank of 15 years.
Fixed as well as floating HDFC Bank loan against property interest rates available.
HDFC overdraft against property is provided for both salaried & self-employed borrowers.
Customized loan options for self-employed borrowers applying for a mortgage in India.
Joint mortgage loan application possible. Know who can be your co-applicant.
HDFC LAP loan funding is available up-to 65% of the property value.

Read more

Loan Against Property Apply Online With HDFC Bank

3) Axis Bank LAP

Axis Bank property loan amount starts from Rs.5 Lakhs.
The maximum tenure for LAP is up-to 20 years.
Attractive Axis Bank lap interest rate starting from 10.50% onwards.
Axis Bank loan against property eligibility - salaried, self-employed, & self-employed professionals above the age of 24 years.
Dropline overdraft facility is available with Axis loan against property for self-employed & self-employed professionals to meet their working capital requirement.
Axis Bank loan against property interest rates for o/d will be higher by 1%-2%.
Senior citizens can apply for Axis Bank reverse mortgage loans with Axis LAP interest rate for reverse mortgages starting from 11% p.a.
Axis Bank interest rates on loan against property are variable interest rates.
The maximum LTV funding available is up-to 55%.

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Apply For Home Mortgage Loan with Axis Bank @ Attractive Axis Bank LAP Rate

Loan Against Property Tax Benefits

There are no tax benefits on loan against property. However, a loan against property tax rebate can be claimed on the interest paid provided the end-use of the LAP loan is justified and is properly documented. For instance, the interest can be claimed as business expenses under section 37(1) if the LAP loan is used for business purposes OR can be claimed under section 24(b) if the LAP amount is used for purchasing a house/for home renovation/home repair. However, if the LAP amount is used for personal needs such as marriage expenses or children’s education, travel holidays, etc. no tax benefits on the interest paid will be allowed. Also, the loan against property income tax benefits is not allowed on the amount of principal repayment of the loan.

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Loan Against Property Documents Required

	Salaried	Self-Employed
KYC	Pan Card Aadhar Card Passport size photograph	Pan Card Aadhar Card Passport size photograph
Income Documents	The latest 4 months salary slips. 2 years Form 16. 12 months bank account statement of the salary account. Latest 1-year bonus copy.	3 years latest financials with Saral Copy, Computation of Income, Balance Sheet, P&L account, Capital Account - CA certified with membership no. & USDIN no. Latest 3 years Form no-26 AS. Latest 1-year Copy of GST returns – 3B form. Latest 12 months bank account statement of all accounts.
Other Documents	Duly Signed mortgage application form. Processing fee cheque in favor of the bank.	Duly Signed lender application form. Processing fee cheque in favor of the bank. Business profile on the letterhead of the company. Business proof – GST registration, Ghumastha, or Copy of Aadhar Udyog. Copy of contract letter if any. If a home buyer is: Chartered Accountant - a copy of COP & passing certificate. Doctor - a copy of degree certificate.
Property Documents	Copy of prior chain of agreements. OC / CC + approved plan copy. Copy of Index 2. Latest property maintenance bill. Copy of share certificate. Copy of society registration certificate. Latest property tax receipt.	Copy of prior chain of agreements. OC / CC + approved plan copy. Copy of Index 2. Latest property maintenance bill. Copy of share certificate. Copy of society registration certificate. Latest property tax receipt.
Additional Documents Required for Loan Against Property Transfer To Another Bank	LOD (list of documents) from the existing loan bank. Repayment track record for 18 months. Outstanding letter copy from the existing loan bank.	LOD (list of documents) from the existing loan bank. Repayment track record for 18 months. Outstanding letter copy from the existing loan bank.

Click to get a detailed list of documents till disbursement for loan against property in India for NRI, Salaried, Self-employed - Proprietorship Firm, Partnership Firm, & Private Ltd. Company.

Loan Against Property Process

The following is the procedure for loan against property:

Apply for a mortgage loan

You can apply for a mortgage either online or offline with a lender. For an online application, fill the form with basic details such as name, address, contact details, employment details, income details & co-applicant’s details. For offline, make physical applications to the lender.

Documents Collection

In an online application, upload your mortgage loan documents online. In offline, a bank representative in person will collect the documents & the application form.

Documents Processing & Verification

The documents are verified & processed for CIBIL checks, FI visits, legal & technical, etc.

Legal & Technical Process

Property legal is conducted to ascertain the property has a clear and marketable title and the technical is conducted to ascertain the market value of the property so that the lenders do not over-lend the cost of the property.

Personal Discussion & Sanction

A personal discussion with the credit manager is arranged to evaluate your requirement for obtaining a mortgage loan. After successful discussion and clear legal & technical reports, your loan will be sanctioned.

Pay The processing Fees

On loan sanctioned you are required to pay the LAP processing fee on the approved loan amount.

Sanction Letter Issued

Once you pay the complete processing fee amount, an official copy of the sanction letter will be issued. Know how to read the sanction letter of the bank.

Loan Agreement & Disbursement

Lastly, sign the lender loan against property agreement for disbursement and submit.
Read more for a detailed process.

Loan Against Property Terms & Conditions

All property co-owners have to be the co-applicants in the loan.
Meet the minimum sq. ft. area requirement of the lenders.
Sibling NOC is mandatory if the property is in the parental name.
LAP loans are not available for speculative purposes, such as investment in stock markets, mutual funds, etc.
LAP loans cannot be extended to private financers & private lending companies.
LAP funds cannot be utilized to buy a chawl property or to start a new business.
LAP top up loan is subject to income eligibility & LTV norms.
The applicant must have a regular flow of income.
The self-employed applicant must have a profit-making business.
The applicant must have a good CIBIL score.
For LAP loan balance transfer the applicant must have a good 1-year repayment track record, no overdue on other loan accounts & no poor CIBIL scores.

List Of Other Loan Against Property Banks/ Loan Against Property NBFCs/HFCs

Indian Overseas Bank loan against property.
IOB loan against property interest rate- 9.75% p.a. -10.25% p.a.
Union Bank loan against property.
Union Bank loan against property interest rate - 9.80% p.a. - 10.75% p.a.
Indian Bank loan against property.
Indian Bank loan against property interest rate - 10.50% p.a. - 12.25% p.a.
Central Bank Of India loan against property.
Central Bank Of India loan against property interest rate - 13.75% p.a. onwards.
South Indian Bank loan against property.
South Indian Bank loan against property interest rate - 10.05% p.a. - 10.30% p.a.
Allahabad Bank loan against property.
Allahabad bank loan against property interest rate - 14.15% p.a. onwards.
Citibank loan against property.
Citibank loan against property interest rate - 7.20% p.a. onwards.
Loan against property UCO Bank.
UCO Bank LAP loan interest rate - 10.35% p.a. - 10.45% p.a.
Loan against property Andhra Bank.
Andhra Bank mortgage loan interest rates - 9.80% p.a. - 10.75% p.a.
Loan against property Vijaya Bank.
Vijaya Bank mortgage loan interest rates - 8.45% p.a. - 13.20% p.a.
Loan against property HDB Financial Services.
HDB mortgage loan interest rates - 17.25% p.a.
Loan against property HSBC Bank.
HSBC mortgage rates - 8.35% p.a. onwards.
Loan against property Federal Bank.
Federal Bank loan against property interest rates - 7.65% p.a. - 7.80% p.a.
IDFC loan against property.
IDFC Bank loan against property interest rates - 11.80% p.a. onwards.
Loan against property Karnataka Bank.
Karnataka Bank mortgage loan interest rates - 10.90% p.a. - 11.85% p.a.
Indiabulls loan against property.
Indiabulls loan against property rate of interest - 10.50% p.a. onwards.
Tata Capital loan against property.
Tata Capital loan against property interest rates - 10.10% p.a. onwards.
Reliance loan against property
Reliance loan against property interest rates - 11% p.a. - 13% p.a.
L&T loan against property
L&T loan against property interest rates - 10.30% p.a. -10.90% p.a.
Piramal loan against property
Piramal loan against property interest rates - 11.50% p.a. Onwards.

Bajaj Finserv loan against property
Bajaj Finserv loan against property interest rate - 10.50% p.a. - 14.50% p.a.

Apply for a quick loan against property

Loan Against Property vs Home Loan

Loan Against Property	Home Loan
Taken against the already owned property.	Taken to purchase a new residential property.
Property can be either commercial or residential.	Property is only residential.
Mortgage rates in India are 1.5% - 2% higher than home loan interest rates.	Home loan rates are 1.5% - 2% lower than LAP rates.
Max. funding of up-to 65% of the property value.	Max. funding of up-to 90% on the property value.
LAP maximum tenure of 20 years.	Max. tenure of 30 years.
Max. processing fees of up-to 1% on the loan amount.	Max. processing fees of up-to 0.30% on the loan amount.
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Contact Loanfasttrack:

Website - www.loanfasttrack.com
Email - info@loanfasttrack.com
Tel - 9321020476

Remember

A loan against property comparison and evaluation is important before applying for a mortgage loan.
Loan closure charges are applicable on the loan against property which may vary from lender to lender.
LAP balance transfer loans also attract closure charges.
Knowing the complete cost involved in availing a LAP loan is important.
Changing jobs during mortgage application may cause delay in your mortgage application time.

Loan Against Property FAQ

Q. How much CIBIL score required for loan against property?

Ans: 750 & above must be your minimum CIBIL score for loan against property.
Read if you want to know how to apply for a mortgage loan with low CIBIL score.

Q. What is LAP loan overdraft facility? What is the rate of interest on loan against property with an overdraft facility?

Ans: A loan given in the form of an overdraft against the pledge of your property is a LAP overdraft facility. The LAP rates India for overdraft against property is 1%-2% higher than the standard overdraft facility against property.

Q. How to get loan against property in India?

Ans: You can visit the website of the lender and apply for the loan, also you can visit the lender branch to apply in person. Alternatively, you can simply visit www.loanfasttrack.com and get the personalized services from the top mortgage lenders in India at no extra cost.

Q. What will be my loan against property EMI for 25 Lakhs?

Ans: The EMI for loan against property generally depends on your age, loan tenure, loan amount, and LAP rates. Given the maximum tenure offered under loan against property of 15 years and lowest LAP ROI of 8.35%, your LAP EMI for 25 Lakhs will be Rs.24,399/-.

Q. How much loan can I get against the property?

Ans: The loan amount on the property depends on the type of the property and its market value.

For residential property - the maximum loan amount against property will be 60%.
For commercial property - the maximum loan amount against property will be 60%.
For industrial property - the maximum loan amount against property will be 50%.

Q. I am a retired government officer drawing a pension of Rs. 30,000/- per month. Can I get a LAP loan?

Ans: Yes, you are eligible for a mortgage loan. A loan against property for pensioners is available under the head of a reverse mortgage, subject to the end-use of the loan. For complete details on reverse mortgages & reverse mortgage eligibility kindly refer to our blog on reverse mortgage loans for the elderly.

Q. We have recently started a new travel business? Can we get loan against property for new business that I have started?

Ans: No. LAP loan is not provided for a new business or for starting a new business. You need to have a minimum business vintage of 5 years to apply for a LAP loan.
Click to know the various business conditions of the lenders for applying for a mortgage loan for self-employed applicants.

Q. Which banks provide loan against property?

Ans: Banks such as ICICI Bank, HDFC, Canara Bank,SBI , Axis Bank are some of the prominent mortgage lenders. Kindly refer above for other LAP lending Banks/NBFCs/HFCs & their LAP interest rates.

Q. What is the maximum tenure under loan against property?

Ans: Maximum tenure for LAP is 20 years.

Q. What is the minimum tenure for loan against property?
Ans: The minimum loan against property tenure is 5 years.

Q. Can we avail loan against property to buy another property in Mumbai?

Ans: Yes, you can avail LAP loan to buy another property. However, if you are buying a new property you should apply for a housing loan in Mumbai and get the benefits of lower rates, longer tenure, and tax rebates.
Click to know best home loan rates in Mumbai.

Q. Can loan against property be converted to home loan?

Ans: No. A loan against property can never get converted to a home loan.

Q. Can we take loan against property on a gram-panchayat property?

Ans: Yes, you can avail of a loan against gram panchayat property. There are not many lenders NBFCs/HFCs which provide loan against property in gram panchayat areas.

Q. Is loan against property transferable?

Ans: You can anytime transfer loan against property to another lender provided you meet the LAP transfer prerequisite. Also, you will have to pay a foreclosure charge to the lender if you apply for a mortgage balance transfer.
Read more

Q. How much are the minimum interest rates for loan against property?

Ans: Loan against property minimum interest rates starts from 7.50% p.a. Which is provided by HDFC. HDFC LAP interest rate can be floating as well as fixed. HDFC LAP rates range from 7.50% p.a. - 11.10% p.a.

Q. How much is the ICICI Bank loan against property interest rate for overdraft facility?

Ans: ICICI Bank mortgage loan interest rate for overdraft facility starts from 9.50% p.a.

Q. Can I apply for a joint mortgage loan?

Ans: Yes, you can apply for a joint loan against property with an eligible co-applicant to enhance your mortgage eligibility. You can apply for a joint mortgage with parents, spouse & children. You can also apply for a joint mortgage with siblings.
Read more for joint loan benefits.

Q. Can I apply for mortgage with multiple lenders?

Ans: Yes, you can apply for a mortgage loan with multiple lenders. Every time you apply the lender will run a CIBIL check which may affect your CIBIL score. Hence it is advisable to compare and evaluate the best banks for mortgage loans in India before making multiple mortgage applications. However, you can apply for multiple mortgage loans with multiple lenders subject to your eligibility.

Q. Can I apply for a mortgage online?

Ans: Yes, you can apply for a mortgage loan online with ICICI Bank. ICICI Bank LAP interest rate starts from 8.35% p.a. onwards.
Click to know how to apply for a mortgage loan online

Q I am salaried working in a proprietorship firm. I do not get form 16? Can I apply for a loan against property without form 16?

Ans: You cannot apply for a loan against property without income proof. For salaried loan applicants, it is mandatory to have form 16 and salary slips to apply for a LAP loan with banks. However, some NBFCs may consider your mortgage application provided you get the salary certificate from the employer but may charge you with high mortgage rates and processing fees. Click to get the salaried list of documents required for applying for a mortgage loan.

Q. When should I apply for mortgage pre-approval?

Ans: You can anytime apply for a pre-sanction loan. The pre-sanction helps you to know your exact loan eligibility in advance and accordingly plan for your budget. It also saves your time as a major part of loan sanction has already been done. Therefore, when you have a requirement of funds soon you should apply for a LAP loan in advance.

Q. How to apply for mortgage pre-approval?

Ans: You can either visit the lender’s website and apply for mortgage loan presanction or you can visit the lender branch to apply for mortgage pre-approval. Alternatively, you may simply visit www.loanfasttrack.com and get the personalized free loan services in Mumbai from the top mortgage lenders in India at no extra cost.

Q. How much are the 15-year mortgage rates & 30-year mortgage rates for fixed mortgage loans?

Ans: The interest rates for fixed-rate mortgages differ from lender to lender and the tenure of the loan. The fixed rates are generally higher by 1%-2% than the standard floating rates of the lender. Please check with your lender for the exact terms and rates for the fixed interest rate mortgage loan.

Q. I have a fixed interest rate ICICI home mortgage loan. My ICICI mortgage loan interest rate is very high? Can I convert to a floating ICICI Bank mortgage loan interest rate?

Ans: You can convert your fixed interest rate ICICI Bank mortgage loan to a floating interest rate ICICI mortgage loan to enjoy the lower interest rates. You will have to pay a charge for search conversion. Please check with ICICI for the terms and conditions of your fixed-rate loan.

Q. I have an existing 20 years of relationship with a nationalized bank - Canara Bank and want to apply for a LAP loan with the same bank. What will be the Canara Bank LAP interest rate & maximum tenure for mortgage loan?

Ans: Canara Bank loan against property interest rates range from 9.95% p.a. - 12% p.a. while the maximum tenure under loan against property with Canara Bank is 10 years.
Read more for Canara mortgage loans.

Benefits Of Applying LAP With Loanfasttrack

	Assured Lowest Mortgage Interest Rates In India.
	Compare LAP Interest Rates Of The Top Banks.
	No Hidden Cost.
	Nil Part Payment Charges & Low Foreclosure Charges.
	Money-Saving Unique Offers.
	Lifetime Free Financial Advice.

Why Choose Loanfasttrack?

Loanfasttrack is a free service provider. It is one of the best home loan companies to secure your dream house.Loanfasttrack has a dedicated professional team which helps you to arrive at a smarter decision by evaluating the attractive & best home loan offers and best home loan rates of all banks & discounts from multiple banks. It is the best online platform that helps you to find best bank for home loan and compare home loan interest rates, check home loan eligibility & apply home loan online at a single click. You no longer have to worry about “Which bank gives lowest interest rates for home loan”, Loanfasttrack assures on providing you with lowest Housing loan interest rates.

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Door Step Services

Hassel Free Documentation

Your Privacy Is Maintained

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No Foreclosure Charges

No Part Payment Charges

Full Loan Security

Protector Plans

Best Bank For Loan Against Property

Compare And Apply Loan Against Property Online

What Is Loan Against Property ?

Loan Against Property Purpose

Current Loan Against Property Interest Rates Comparison

How Much Loan Against Property Do Cost?

Loan Against Property Tenure

Loan To Value (LTV)

Which Is The Best Bank For Loan Against Property In India

Best Loan Against Property In India

Apply For Loan Against Property Online

Types Of LAP Loans In India

Loan Against Property Eligibility Criteria

Eligibility Criteria For Loan Against Property

Loan Against Property Calculator

Calculate Your EMI

Loan Against Property Advantages

Top 3 Best LAP Loan Schemes

1) ICICI Bank Mortgage Loan

Loan Against Property Apply Online With ICICI Bank

2) HDFC Bank Loan Against Property

Loan Against Property Apply Online With HDFC Bank

3) Axis Bank LAP

Apply For Home Mortgage Loan with Axis Bank @ Attractive Axis Bank LAP Rate

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Loan Against Property Documents Required

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Loan Against Property FAQ

Q. How much CIBIL score required for loan against property?

Q. What is LAP loan overdraft facility? What is the rate of interest on loan against property with an overdraft facility?

Q. How to get loan against property in India?

Q. What will be my loan against property EMI for 25 Lakhs?

Q. How much loan can I get against the property?

Q. I am a retired government officer drawing a pension of Rs. 30,000/- per month. Can I get a LAP loan?

Q. We have recently started a new travel business? Can we get loan against property for new business that I have started?

Q. Which banks provide loan against property?

Q. What is the maximum tenure under loan against property?

Q. What is the minimum tenure for loan against property? Ans: The minimum loan against property tenure is 5 years.

Q. Can we avail loan against property to buy another property in Mumbai?

Q. Can loan against property be converted to home loan?

Q. Can we take loan against property on a gram-panchayat property?

Q. Is loan against property transferable?

Q. How much are the minimum interest rates for loan against property? Ans: Loan against property minimum interest rates starts from 7.50% p.a. Which is provided by HDFC. HDFC LAP interest rate can be floating as well as fixed. HDFC LAP rates range from 7.50% p.a. - 11.10% p.a.

Q. How much is the ICICI Bank loan against property interest rate for overdraft facility?

Q. Can I apply for a joint mortgage loan?

Q. Can I apply for a mortgage online?

Q I am salaried working in a proprietorship firm. I do not get form 16? Can I apply for a loan against property without form 16?

Q. When should I apply for mortgage pre-approval?

Q. How to apply for mortgage pre-approval?

Q. How much are the 15-year mortgage rates & 30-year mortgage rates for fixed mortgage loans?

Q. I have a fixed interest rate ICICI home mortgage loan. My ICICI mortgage loan interest rate is very high? Can I convert to a floating ICICI Bank mortgage loan interest rate?

Q. I have an existing 20 years of relationship with a nationalized bank - Canara Bank and want to apply for a LAP loan with the same bank. What will be the Canara Bank LAP interest rate & maximum tenure for mortgage loan?

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Q. What is the minimum tenure for loan against property?
Ans: The minimum loan against property tenure is 5 years.

Q. How much are the minimum interest rates for loan against property?

Ans: Loan against property minimum interest rates starts from 7.50% p.a. Which is provided by HDFC. HDFC LAP interest rate can be floating as well as fixed. HDFC LAP rates range from 7.50% p.a. - 11.10% p.a.